v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Mar. 31, 2026
Current assets:    
Cash $ 38,940,138 $ 29,797,800
Accounts receivable, net of allowance for expected credit losses of $1,280,030 and $1,441,523 respectively 50,441,624 59,715,676
Inventory 24,200,388 21,259,898
Prepaid expenses and other current assets 905,552 1,333,177
Total current assets 114,487,702 112,106,551
Property and equipment, net of accumulated depreciation of $18,353,218 and $18,100,243 respectively 10,737,317 10,181,328
Intangible assets 4,790,790 4,790,790
Finance lease - right-of-use asset, net of accumulated amortization of $1,099,587 and $984,801 respectively 1,180,377 1,295,163
Operating lease - right-of-use asset 1,404,216 1,529,468
Deferred income tax asset 6,501,308 7,823,039
Other assets:    
Restricted cash - debt service for NJEDA bonds 475,441 471,520
Security deposits 91,981 91,981
Total other assets 567,422 563,501
Total assets 139,669,132 138,289,840
Current liabilities:    
Accounts payable 5,591,368 6,053,444
Accrued expenses 6,429,800 10,194,222
Bonds payable, current portion, net of bond issuance costs 135,822 135,822
Loans payable, current portion 93,904 92,774
Lease obligation - finance lease, current portion 387,847 378,775
Lease obligation - operating lease, current portion 553,534 536,427
Derivative financial instruments - warrants 17,249,339
Total current liabilities 30,441,614 17,391,464
Long-term liabilities:    
Bonds payable, net of current portion and bond issuance costs 655,103 651,559
Loans payable, net of current portion and loan costs 2,129,277 2,152,969
Lease obligation - finance lease, net of current portion 746,496 851,640
Lease obligation - operating lease, net of current portion 870,586 1,015,647
Derivative financial instruments - warrants 17,343,586
Total long-term liabilities 4,401,462 22,015,401
Total liabilities 34,843,076 39,406,865
Commitments and Contingencies (Note 9)
Shareholders’ equity:    
Common Stock; par value $0.001; 1,445,000,000 shares authorized; 1,077,236,442 and 1,077,196,442 shares issued as of June 30, 2026 and March 31, 2026, respectively; 1,077,136,442 and 1,077,096,442 shares outstanding as of June 30, 2026 and March 31, 2026 respectively 1,077,240 1,077,200
Additional paid-in capital 173,976,332 173,943,856
Treasury stock; 100,000 shares as of both June 30, 2026 and March 31, 2026 at cost (306,841) (306,841)
Accumulated deficit (69,920,675) (75,831,240)
Total shareholders’ equity 104,826,056 98,882,975
Total liabilities and shareholders’ equity $ 139,669,132 $ 138,289,840